Savings Banks Increasing Benefits for Employees Prioritizing 'Worabal' Work-Life Balance

[Asia Economy Reporter Song Seung-seop] Savings banks are increasing welfare benefits for their employees. This is to keep pace with the social atmosphere that values workplace environment and employee welfare.

According to the industry on the 14th, Choi Seong-wook, CEO of JT Savings Bank, recently sent health foods to the parents and families of executives and employees in celebration of Family Month. Following last year's delivery of Samgyetang, this year they sent Wando abalone along with a handwritten letter. At JT Savings Bank, when an employee's child enters school or a child is born, the CEO also provides a message card, flower basket, and school supplies.

Welcome Savings Bank also holds in-house events during Family Month. If employees write thank-you letters to their families, the bank sends gifts along with the letters on Parents' Day. They have also introduced a 'Filial Allowance' that gives pocket money to employees' parents. If an employee has a parent over 65 years old, 50,000 KRW is sent directly to each parent.

OK Savings Bank operates a family-friendly program. Twenty teams of employees and their families who apply in advance can go on a one-night, two-day glamping trip to a glamping site in Chungcheong Province through the 'Glamping Trip with Family' program. On Children's Day, they provided baseball stadium tickets and snacks.

Sangsangin Savings Bank sends seasonal foods to employees' families each season. This month, they provided a pork belly package. There is also a system that supports family travel and gift purchase expenses up to an annual limit of 2 million KRW.

A savings bank official explained, "For several years, a family-friendly corporate culture has been established in the industry, ensuring employees can balance work and family life and enjoy a prosperous personal life," adding, "With the growth of the sector, we expect more savings banks to focus on expanding welfare policies and improving working environments."